Overland Storage Obtains Favorable NASDAQ Listing Determination
September 18 2013 - 6:30AM
Marketwired
Overland Storage (NASDAQ: OVRL), a trusted global provider of
effortless data management and data protection solutions across the
data lifecycle, today announced that the NASDAQ Listing
Qualifications Panel (the "Panel") has granted the Company's
request to remain listed on The NASDAQ Capital Market, subject to
certain conditions, including the Company's satisfaction of the
applicable $35 million market value of listed securities
requirement (the "Market Cap Requirement") on or before December
30, 2013. The Company is diligently working to timely satisfy the
terms of the Panel's decision; however, there can be no assurance
that the Company will be able to do so.
As previously disclosed, on July 2, 2013, NASDAQ notified the
Company that it no longer satisfied the Market Cap Requirement and
that its securities were therefore subject to delisting. The
Company subsequently requested a hearing before the Panel, at which
it presented its plan to regain compliance with the Market Cap
Requirement by no later than December 30, 2013.
About Overland Storage Overland Storage is
a trusted global provider of effortless data management and data
protection solutions across the data lifecycle. By providing an
integrated range of technologies and services for primary,
nearline, offline, archival, and cloud data storage, Overland makes
it easy and cost effective to manage different tiers of information
over time. Whether distributed data is across the hall or across
the globe, Overland enables companies to focus on building their
business instead of worrying about data growth. Overland SnapScale,
SnapServer, SnapSAN, NEO Series and REO Series solutions are
available through a select network of value added resellers and
system integrators. For more information, visit
www.overlandstorage.com.
Connect with Overland Storage: Read the
Overland blog: http://overlandstorage.com/blog Follow Overland on
Twitter: http://www.twitter.com/OverlandStorage Visit Overland on
Facebook: http://www.facebook.com/OverlandStorage
Overland Storage, SnapScale, SnapSAN, SnapServer, NEO Series,
REO Series and the Overland logo are trademarks of Overland
Storage, Inc., that may be registered in some jurisdictions. All
other trademarks used are owned by their respective owners.
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Investor Relations Contact: Todd Kehrli or Jim Byers MKR
Group Inc. 323-468-2300 ovrl@mkr-group.com
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